MCC not the only major Chinese enterprise on World Bank corruption blacklist

The PNG government should be wary about its new open door policy towards Chinese companies and loans.

Two years ago Chinese state-owned corporation MCC, operator of the controversial Ramu nickel mine in Madang, was exposed as having been labelled corrupt and blacklisted by the World Bank and other international banks.

MCC is clearly not the sort of company you want pumping millions of tons of toxic mine waste into your pristine marine environments. It is a shame Michael Somare did not do a better job of due diligence before jumping into bed with these particular Chinese!

In April we exposed the criminal antecedents of the China Harbour Engineering Company in Bangladesh, Cayman Islands and Jamaica – but in June Powes Parkop gave the company a K300 million contract!

But it appears the rot in China runs much deeper as MCC and CHEC are far from the only Chinese enterprises blacklisted by the World Bank for corruption and other unsavory practices.

The list also includes:

ZHEJIANG ZHEDA INSIGMA GROUP CO. LTD. (INSIGMA GROUP)

ZHEJIANG ZHEDA INSIGMA TECHNOLOGY CO. LTD.

ZHONGKE LIFE SCIENCE & TECHNOLOGY CO., LTD.

HEFEI HIGHWAY & BRIDGE PROJECT CO. LTD

DAQING OILFIELD HIGHWAY & BRIDGE ENGINEERING CO., LTD.

CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMITED (as the successor or assign to China Road and Bridge Corporation)

CHINA GEO-ENGINEERING CORPORATION

CHINA STATE CONSTRUCTION ENGINEERING CORPORATION

CHINA WUYI CO. LTD

It is not only the World Bank that has bared these companies for fraud and corruption. The companies are also on the blacklists of the Asian Development Bank, European Bank for Reconstruction and Development, and Inter-American Development Bank.

FYI….RH — Rimbunan Hijau has offloaded 60% of its shares to a Chinese Company for US$1.5 Billion to pay for its loans as the Banks were after its tail. Now that RH which is established already in PNG is owned 60% by a Chinese Group …. the door is now open for them to enter PNG at will using RH as the front for their investment and business plans. While the PNG Government is sleeping and the politicians jumping into bed with them. EXIM Bank is a Chinese Bank and so its their money and the dictate their Terms and Conditions to PNG …. no questions asked……while the mess up our environment and take our resources cheaply.